Marcus By Goldman Sachs is the savings and personal loan banking division of investment firm Goldman Sachs. It provides online-only savings accounts with no fees or minimum deposit requirements. It also offers some of the highest interest rates around on savings accounts and certificates of deposit.
- Current Marcus By Goldman Sachs Promotions
- What Are the CD Rates at Marcus By Goldman Sachs?
- How To Open a Marcus By Goldman Sachs Account
- Is Marcus By Goldman Sachs the Right Bank for You?
Marcus By Goldman Sachs doesn't have any special promotional offers this month, but there are other ways to save money or earn extra cash at the bank. Keep reading to learn more.
Marcus By Goldman Sachs' high-yield savings account offers an annual percentage rate that's four times the national average. Not only do you get a great rate, but the account also has no fees or minimum balance requirements.
You can link to other bank accounts for easy transfers and have access to your money when you need it. Marcus By Goldman Sachs coupon codes are not required to get these rates.
While CDs are considered a safe savings option, you can pay stiff penalties if you cash in a CD before the maturity date. Marcus By Goldman Sachs offers a No-Penalty CD that lets you withdraw the full balance without paying an extra fee -- and gives you any interest already earned. These CDs come in seven-month, 11-month and 13-month terms with rates ranging from 1.10% to 1.30%.
Related: Best Savings Accounts of 2020
CD rates at Marcus By Goldman Sachs vary depending on the terms of the CD. As of June 1, the bank's rates range from 0.60% APY for a six-month CD to 1.40% APY for five- and six-year CDs. CDs with one-year to four-year terms earn 1.35% APY. You can explore your options and see how much your CD can potentially earn by using the Savings Calculator on the bank's website.
Check Out: Best CD Rates and Accounts of 2020
To open a bank account at Marcus By Goldman Sachs, you'll need to complete an online application. The process is simple. All you need to do is create an account and provide the following information:
- Street address
- Social Security number
- Employment status
- Email address and password
There's no minimum deposit required to open a high-yield savings account, but the bank might close the account if you don't make a deposit within 60 days of opening it. The minimum deposit to open a Marcus By Goldman Sachs CD is $500. You can fund your accounts through a transfer from a linked bank account, direct deposit, mailed check or domestic wire transfer.
With high-interest rates and no fees, Marcus By Goldman Sachs is a good option for customers looking for a place to save their money. However, if you're looking for a checking account or credit card, Marcus by Goldman Sachs isn't the right choice because you won't find either at the bank.
If cash bonuses are important, check out this GOBankingRates article on other banks that are offering promotions to see how you can earn free money for opening a new account.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of July 28, 2020.
This content is not provided by Marcus by Goldman Sachs. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Marcus by Goldman Sachs.
This article has been updated with additional reporting since its original publication.